Gross Domestic Product (GDP) is the total value of goods and services produced within a country that is the total monetary value of all finished goods and services produced within a country’s borders during a specific period of time.
Reference Definition by Investopedia.com: GNP (Gross National Product) is the total value of goods and services produced within a country that is related to another important economic measure called Gross Domestic Product (GDP), which takes into account all output produced within a country’s borders regardless of who owns the means of production. GNP starts with GDP, adds residents’ investment income from overseas investments, and subtracts foreign residents’ investment income earned within a country.
